Skip to main content

About your Search

20121129
20121207
STATION
CNNW 14
CNN 5
FBC 3
MSNBCW 3
CNBC 2
WRC (NBC) 2
CSPAN 1
KGO (ABC) 1
KPIX (CBS) 1
WBAL (NBC) 1
WETA 1
LANGUAGE
English 45
Search Results 0 to 44 of about 45 (some duplicates have been removed)
to the business round table today about the ongoing fiscal cliff talks. boeing ceo jim mcnerny says the business leaders want a balanced solution to short and long-term deficit issues. >>> and facebook is joining the nasdaq 100 index. it will be joining the index next wednesday and replaces tech firm emphasis who is moving to the new york stock exchange. >>> our guest host here to take on the financial cliff as well as false assumptions investors may be making about what the markets will do come january. joining us is dan greenhouse and chris walen, senior managing director. just looking through some of your comments, dan, you don't think we should go over, obviously. >> well, we were -- chris and i were joking in the green room. a lot of the policies in the cliff to us personally are anathema, but that's probably going to happen and what should happen. >> bring it on. >> you think -- >> look, subject americans to the minimum tax. >> yeah, they'll understand. >> the democrats want to raise taxes so they can spend more. they derive economic sustenance from spending. you've got to understand the d
the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this directly but suggested it doesn'
small business should take right now to prepare. plus jeff flock is milking of fiscal cliff story for us and from the farm. jeff: you don't care about the fiscal cliff but if you care about milk prices if we don't get a deal on a farm bill, milk prices could double within a month. i will explain how that will happen right down here on the farm. we will get it from the horse or the calla's and house. you know how painful heartburn can be. for fast, long lasting lief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving theain quickly. try fast, long lasting gaviscon®. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going onow -- but hurry, the off ends soon. cheryl: 30 past the hour, the largest generic maker -- >> pharmaceuticals of by 1/2%. announcing a major reorganization plan with $2 billion and expenses over the next five years and this is wide ranging including everything from discontinuing research operations, changi
. yesterday, our leadership team met with her stumbles and business leaders about averting the fiscal cliff and achieving a balanced approach the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to roll out sensible spending cuts that must rollup any agreement that will reduce our deficit. mr. bowles himself that there have been no serious discussion of spending cuts so far. unless there is, there is a real danger of going off the cliff. that will hurt our economy and cost american jobs. republicans have taken action to revert the fiscal cliff. to replace the sequestered and paid way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not nee
: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not enough
's happened over the last couple of weeks. going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> now, the white house thinks republicans have overdone the outrage today. they say the real problem republicans have is they don't want to raise taxes on the rich. so basically we are still deadlocked tonight, shep. >> shepard: vice president biden did his part for the economy today. he went shopping? >> yeah a new cosco here in washington, d.c. opened up today. big crowd in the parking lot. vice president's motorcade showed up. he actually bought a big screen tv as well as a apple pie. what could be more american than that. he went on to is a say he is feeling good and optimistic about a deal. take a listen. >> i am. i am. all these folks in this store, man, going to make a difference. >> more important than shopping trip will be what actually happens between the president and speaker boehner. we're told they had a phone call last night. initial report suggested it was tense. white house say
's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes right here. republicans on the hill are demanding trillions of dollars worth of debt reduction. that's pretty much fine with democrats who say the wealthy should foot the bill in the form of higher tax rates. and therein lies the catch because the republicans want the savings of federal spending cuts. that dispute blocking efforts to keep rates from rising on everyone. as scheduled on january 1st. this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i
putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus, no spending cuts and no plan to preserve and protect social security and medicare will not solve our fiscal crisis. it will make that crisis much worse. what is your response to cornyn's reaction? >> well, i would say to senator cornyn, where have you been? we've just had an election. the people had a choice between mitt romney and president obama who said let's have a balanced plan, and let's give tax cuts to the middle class. what is he talking about? this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are sayi
with the fear of falling off, know what, the fiscal cliff. if washington does a deal, small businesses may feel brightner the next survey. but for now the uncertainty means owners, who are the biggest drivers in employment, are less likely to hire more workers or invest in growth. one in five said they will cut their workforce the next twelve months. that's the highest since the survey began ten years ago. one in three predict they will slash capital spending the next year too. here is how gallop summed it up. survey suggests the u.s. economy is extremely fragile and possibly susceptible to another recession. we will take a look at what exactly the fiscal cliff means to small business owners and what they can do to prevent any damage. they could be among the hardest hit if we don't get a deal. shannon, back to you. >> so many consequences. all right. thank you, brenda. we asked, you answered. up next, your time to chime in on today's twitter question. and a must-see kicker video you do not want to miss. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the re
took his fiscal cliff toy factory. up next, how the fiscal cliff debate affects your wallet, your business or your favorite toys for that matter. you're watching msnbc, the place for politics. ♪ (announcer) when subaru owners look in the mirror, they see more than themselves. so we celebrate our year-end with the "share the love" event. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 million dollars. it's a nice reflection on us all. now through january 2nd. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if yo
of weeks. the going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. paul? >> [inaudible]. >> well, we had a very nice conversation last night. it was direct. and straightforward. but this assessment i give you today would be a product of both of those conversations. >> how much are you open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements? >> there are a lot of options on the table including that one. andrew. >> [inaudible]. >> the day after the election i came here and made it clear that republicans would put revenue on the table as a way to begin to move the process to get this resolved. >> [inaudible]. >> revenue is on the table but revenue was only on the table if there were serious spending cuts as part of this agreement. it has to be part of the agreement. we have a debt crisis! we're spending too much. while we're willing to put revenue on the table we have to recognize it's the spending that is out of control. >>
council in washington at 10:45 eastern as he pushes for a budget plan to avoid the fiscal cliff, that includes high tax rates for the wealthy. house republicans are meeting with small business owners today. lawmakers are divided on how much they should compromise with the white house. this is a day after the house speaker john boehner unveiled a budget proposal that included some revenue concession but he faced heavy criticism. mitch mcconnell wouldn't publicly endorse boehner's plan, while jim demint says it would destroy jobs. at the same time, the kkr co-chairman and ceo henry kravis says uncertainty is the main reason why investing isn't happening right now. he says many companies are rushing to close deals before the end of the year, concerns about whether the capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue, and if businessmen got into the room they could solve the problem much faster than congress. >>> adding his tuppence, he says they'll have to get used to it and the fiscal cliff is one of the reasons. >> we have structural influences that
house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. in the meantime, the united nations is hint thag there wil hinting that there will be no asylum for bashar al-assad as the syrian dictator makes it clear that he will die before leaving the country under any circumstances. what is going on behind the scenes, for that we turn to corn powell following all the latest developments from our mideast bureau in jerusalem. connor. >> reporter: the international and inte
are holding the global economy hostage over the fiscal cliff.
to look at the focus of the fiscal cliff debate. they would bear the blame if we do go over the edge. the president sat down with bloomberg news yesterday to talk about this. he said he might be willing to budge on some things but tax rates on the wealthy must go up. republicans should agree to raise them he says now and trust them that spending cuts will go away. >> let's put a down payment on taxes let's let tax rates on the upper income folks go up. >> they have heard these problems before any deal must tackle entitlements such as medicare and social security to put them on a sustainable path. vice presidential candidate and budget chairman paul ryan says the overall thinking has to change. >> the problem they are the same. but the old ways won't do. we need new thinking and renewed efforts from all americans. look, it is true that president obama won reelection. i congratulate him on his victory. but on january 20th, he will face a stagnant economy and a fiscal mess. you might even say he will inherit these problems. >> this has become a public relations issue, too. yesterday the
over the last couple weeks. going over the fiscal cliff is serious business and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> reporter: you had senate republican leader mitch mcconnell say after a meeting with geithner that he considered this is a step backward. and so all the rhetoric, all the talk here on capitol hill sounds pretty pessimistic at this point, guys. bill: we heard a little bit from chris van hollen. what is the latest reaction from democrats to republicans mike? melissa: democrats say if you don't like the president's plan, republicans where is your plan? where exactly are you going to generate more revenue. they're trying to draw the republicans out to put specifics out there in terms of what cuts they want to make to entitlements, feeling like that may hurt republican argument. bottom line, house democratic leader nancy pelosi says she thinks republicans will eventually see the light. melissa: why am i confident? because it is the right thing to do. the american people expect and deserve this to happen. it
to the upcoming fiscal cliff. the deadly storm destroyed or otherwise damaged hundreds of thousands of homes and businesses knocking out power to millions of people along the northeast coast. be careful what you say in front your television because one day soon it could be listening. a new system is in the works that could target commercials just for you. based on what you say. or how you act in the privacy of your own home. >>trace: your television could be watching you one day. the major cable provider has filed for a pat than does that, a set 207 box that you can use or pick up on your gestures while you were watching television. it could listen in on your conversations. the whole idea is to taylor commercials specifically for whoever is watching. for example, if the box hears you arguing with your spouse an advertisement for marriage counseling could pop up. we have seen proposals like this before and it raises big concerns from privacy advocates. today a company spokesman says and i quote, "vie drop has a well established track record of respecting their customers' privacy and protectin
proposing that we let many small businesses, as in hundreds of thousands of them, go over the fiscal cliff. simply put, that's why we don't have an agreement as yet. they said yesterday this is not a game. i used to be a small business owner. small business owners are regular men and women from all backgrounds who, in today's economy, are facing challenges on a daily basis. and the president's tax increase would be another crippling blow for them while doing little to nothing to solve the bigger problem here, which is our national deficit and our national debt. this debt doesn't exist because we don't tax small businesses enough. it exists because washington continues to spend too much. raising taxes on small businesses instead of taking a balanced approach that also cuts spending is wrong. it's only going to make it harder for our economy to grow. and if our economy doesn't grow, americans don't get new jobs. and the debt problem that we have will continue to threaten our children's future. as i said the day after the election, republicans are not seeking to impose our will on the preside
to the country's credit rating in the new year. each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limit. president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may re newsto raise the country's debt ceiling to get their way on spending cuts and risk defaulting on the country's loans. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperorer. >> reporter: fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. >> we're not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes, and expecting the problem to go away. >> reporter: house
'm disappointed in where we are. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> reporter: house democratic leader nancy pelosi quickly dismissed boehner's remarks as a negotiating maneuver. >> i think they'll come around. it's a tactic. it's a tactic. >> reporter: but you hear a strikingly similar message from other top democratic leaders saying the ball is in the republicans' court. >> we are waiting for some specifics somewhere from our republican colleagues to show that they're serious on negotiations. >> reporter: as the country fast approaches the fiscal cliff, the two sides are talking past each other. democrats say they've laid down their marker hiking tax rates on wealthier americans. and it's up to republicans to propose specific spending cuts they want to entitlement programs. however, republicans say they've offered a concession putting revenue on the table. and they say it's now up to the president and his fellow democrats to feel some pain and propose cuts in medicar
to discuss why republicans are waging a war on working families with their fiscal cliff plan. that is 5:00 p.m. eastern here on fox business. >> as we say good-bye to you this hour a lot more ahead for the trading day with a couple hours to go. the president meeting with governors on what else, the fiscal cliff. did they come into any conclusion? ashley and tracy going inside the meeting with utah governor gary herbert. that's next. [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losi money n pop up anytime. that's why she trades with e leader in mobile trading. so she's always ready to take action, matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. ♪ [ engin revs ] ♪ [ me announcer ] oh what funun i to ride. get the mercedes-benz on your wish list at e winter event going on now through december 31st [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $57a month at your local mercedes-benz dealer.
with business leaders focusing on ab boarding the fiscal cliff. on capitol hill democrats and republicans are not meeting and a deal does not seem to be close. in a just-released gallup poll, 62% of americans want to see a compromise. 25% want republican and democratic leaders to hold firm on spending cuts and tax increases. major garrett is at the white house this morning. >> reporter: there is a common thread running through all of this. the public wants a deal. so do the governors, mayors, civic leaders, business executives and everyone else who has come through capitol hill and the white house to talk about the fiscal cliff. for the first time since this drama began to play out on a very public stage, yesterday there were no substantive negotiations or conversations whatsoever, none at all. and here is what the public thinks about all this. if, in fact, the nation does go off the fiscal cliff and negative consequences ensue, by a two to one ratio, by the most recent poll, it will blame republican, not the white house. the white house knows this, believes it's in a strong position and
report. >>> dire warning about what would happen if the u.s. economy goes over the fiscal cliff. survey says 1 1/2 million americans could lose jobs if lawmakers fail to come to agreement automatic spending cuts and tax increases are triggered inside. nationwide insurance warning computer network hacked names, birth dates, social security and driver licenses numbers likely stolen nationwide is apologizing and offering identity theft profession for years. hostess may have a buyer for its wonder bread bran. even with the sale, it could take -- take months before the bread brand wraps up again. >>> estimated 300 million dollar magic kingdom make overincludes pagers so and serving beer and wine themó?5to past five years. >>> abc7 is owned by disney. >>> big change that could be coming to storm warnings because of superstorm san >> dispute forcing bay area -- >>> welcome back. check out last three hours on live doppler, quiet radar returns over the ocean is the beam shooting into the clouds nothing is talling but moist with mist hanging in the -- nothing is falling but moist with the mist
the fiscal cliff and argument from small businesses and others, if you increase our rate, we're either going to have to layoff individuals, not going to hire anybody else right now, and so, therefore, this economy that's already stalled is not going to grow at a clip. >> you remember two years ago, the question was, should we keep the bush rates, at least temporarily, given the problems in the economy and at that time, all the democrats acknowledged raising taxes is not a way to boost economic growth. for whatever reason, this time, there seems to be more of an ideological commitment that the rates have a rise and i think the president ought to be thinking, how do we grow. >> that's what the president said in 2010, we can't afford taxes right now in this down economy, what's changed. >> two years, i guess the election change. great to see you this morning, appreciate it. >> coming up on the show, it's the phone call that every parent dreads, informing you your child has been in an accident. this father and son got through it and now giving back, helping veterans serving life changing challen
the fiscal cliff a lot of investment houses are lowering their growth outlook. that is because the owners of small businesses, they are the drivers of the economy. they hire. right now, one out of five cut jobs in the next 12 months. one out of three is cutting capital spending. if there is no jobs we don't have consumer spending that is 70% of g.d.p., so this is really steam rolling. it is frightening. >> gregg: i was reading economists and they say household purchases, wages in salary going down, durable goods decreasing now we have manufacturing coming out on monday as well as jobs report on thursday or friday? >> yeah, the jobs report is expected to be very dismal, about 75,000 net jobs. some of that is because of sandy, but housing market is rebuilding, it's recovering. that makes people feel more wealthy. this retail season is going to be very critical. it's going to tell us a lot. stocks could go up on that. we have some tail winds but right now there is a lot of question marks. >> gregg: brenda, we'll talk about sandy and impact on the economy in the next hour. you can catch brend
-called fiscal cliff is a solvable problem. critical as the holidays approach and businesses make investment and hiring decisions for next year. while polls show many americans are pessimistic, there's optimism in this home. >> i got a sense that he's confident that what's best for the american people will happen. >> yeah. >> reporter: you agree? >> yes. >> i do too. >> reporter: but for now, the gop's resisting any tax increases even on those upper income americans. house republicans of course have made the counteroffer with $800 billion in new revenue and an overhaul of the tax code. wolf, they feel as if they have moved the ball, but they don't believe that the president is interested in avoiding the fiscal cliff. >> these negotiations, dan, they usually go until the bitter, bitter end. a lot of folks are assuming that before that end there will be a deal. give us a flavor of the mood at the white house. >> reporter: well, i think they're preparing for this fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of n
is pushing ahead with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it, peter morrissey. he is a business professor at the university of maryland, and our own chief business xhnt ali velshi. you wrote something, an article here, predicting that these tax hikes, the spending cuts likely in the debt deal, could push unemployment, you believe, from 7.9% all the way to 10%. how so? >> well, simply it will cut spending in the economy. the wealthy will have less money to spend, but the government will likely be spending a lot less money as well because the republicans are going to want spending cuts. you combine, say, about $250 billion in spending and tax cu
the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bronchitis and emphysema. it should not be taken more than twice a day. s
. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never been as connected in the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. >> negative consequences, seismic or not, none is stopping starbucks plans for 1,500 more cafes across america next year. and just as many around the world. but we get his point. >>> speaking of the fiscal cliff, we know what the parameters of a deal in congress will look like, right? on taxes, republicans give in to raise taxes on the wealthiest 2% and democrats will agree to rein in tax breaks, right? democrats are fighting hard to preserve the tax deduction for state and local taxes,
speaker, john boehner, both expressing optimism on those fiscal cliff negotiations in washington. the dow rallied 100 points yesterday off of those comments. how many times have you heard me say congress will mess it up. >>> goldman sachs ceo met with the president and others yesterday for those fiscal cliff talks. listen to what he told wolf blitzer when asked if taxes should be raised on those making more than $250,000 a year. if that's what it takes to make the math work when you look at entitlement side and revenue side, i wouldn't preclude that. of course we would have to do that if the numbers drive that way. >> he said america can't afford itself right now the way we're going. fiscal cliff talks today continue with geithner making the rounds on capitol hill. later this morning, third quarter gdp expected to be revised higher. economists expect gdp for july to september to be revised from 2% to 2.8%. that would be good news. this is still modest growth. everyone hopes that next year will be a better year than this one in terms of growth. you want to see more than 2.5% growth consist
this morning. u.s. stock futures are trading higher. the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will
your business this morning, markets in a holding pattern as fiscal cliff talks continue in washington. but the s&p 500 is up 12% so far this year. and a 20-year veteran investment strategy at goldman sachs, abby joseph cohen, she estimates stocks could rise another 10% to 15% next year. she says the fundamentals of the u.s. are solid, despite the fiscal cliff concerns coming out of washington. she says stocks could get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not fac
don't know what the fiscal cliff is, you've probably been living under a rock. i found this explanation. this is mr. burns from the simpsons. >> think of the economy as a car and the rich man is the driver. if you don't give the driver all the money, he'll drive you over a cliff. it is just -- >> what actually will happen if america does head toward that fiscal cliff? and go over it even temporarily? cnn money's jean zahadi has been on this story from the very beginning. here is the question at hand. a lot of people are saying, what happens if we don't get a deal right by the end of december and we get into early january, maybe go over the cliff for a week or two? is that catastrophic? >> it doesn't have to be. there are steps the government can take to mitigate the impact of the spending cuts and the tax increases. but legislative and budget experts i talked to say that really assumes a lot of things. one, that congress will act quickly, which can it do if it wants to, but, you know, can they cut a deal in january that they couldn't cut in december? that's one question
with this fiscal cliff, of course, that's the great unknown. but it is making a lot of business leaders very, very nervous. christine romans, she spoke with one ceo who says leaders in washington, they're focused on the wrong issue. >> i asked the outspoken ceo of fedex how companies plan ahead when washington is so dysfunctional. >> well, i think most of the ceos look at the situation in washington with complete amazement and dismay to be frank about it. the problem is the ideological pinnings on both sides of this argument are so difficult to bridge that it's going to be hard for them to get a deal. >> this is a time when companies should be planning for next year. spending money, buying equipment, building factories, hiring workers. instead they have no idea what tax rates will be and whether congress will spark a new recession. and companies are already pulling back. you can see that in the third quarter gdp report. companies spending on software and equipment fell almost 3% in the quarter. we haven't seen that since the recession. s i asked fred smith if he would accept higher taxes to get a
and democrats work together to avoid the fiscal cliff, we can bring you two lawmakers who are open to cutting a deal before the end of the year. with me are members from both sides of the aisle u.s. congressman lee tori, a republican from nebraska, and u.s. congressman jerry conley a democrat from nearby southern virginia. but first, i want to start with you. you told the omaha world herald this about republicans, we're screwed either way we have no leverage in these discussions. congressman, what did you mean by that? >> what i mean by that is that the president wants us to take a tax vote before he's willing to talk about anything else cutting or reforming, and republicans just aren't going to do that. so what he's doing is setting us up to be the fall people for going over the fiscal cliff. frankly, going over the fiscal cliff is a win for the president. so either way we're going to get it. >> but i don't see why that's true because -- first of all, the president has talked around what kind of cuts he wants to do in nondefense discretionary and about a third of a tral dollars in ten years
comments made by president obama and house speaker john boehner, both expressing optimism on fiscal cliff negotiations in the washington. in a new report from the congressional budget office it says more than half a trillion has been spent on jobless benefits over the past five years. $520 billion in jobless benefits in five years. also part of the debate, whether to extend the deadline to file for additional unemployment benefits beyond the end of the year. spending on food stamps is rising. nearly 15 million households received food stampses in 2011, up 10% from the year before according to new data from the census bureau. it shows you the far reach of the government right now in the safety net in supporting american families. all of that at the core of the debate of what's happening with the fiscal cliff. >>> $7 coffee. starbucks thinks you will pay. coffee connoisseurs can pay $7 for a grande cup of costa rica fincapalamara. it's called mucho deneiro. cultivated from a central american bean known as geisha. it is extremely difficult to produce. the same america who spends $7 on lotter
, then they're going to risk the whole economy in going over the fiscal cliff. i don't think that's sustainable. i don't think people fully understand, what the president is saying is 100% of american families and small businesses get continued tax relief on their first $250,000 in income, and on the income above that amount, higher income people would be paying the same rates they did during the clinton administration, which is four more cents on the dollar. and, again, i don't think that's at all unreasonable. the president talked about this at length during the presidential campaign, and i believe -- i think people like tom cole, a conservative republican in oklahoma had it right when he warned his colleagues they would look totally obstructionist if they allowed that to happen. >> congressman, also included in the president's plan was that $200 billion in new stimulus measures. mention the word stimulus to republicans, and, well, they're not too happy with that word. so why do that? why deliberately like -- it seems like it was a deliberate poke in the side. >> no, carol. this
obama is reaching a deal on the fiscal cliff. just 31 days left until we hit those automatic spending cuts and tax increases, if negotiations break down. here is what president obama had to say in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from beginning up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it may way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes that hostage met foaphor one step further. >> unfortunately, some on the other side of the aisle are proposing a disastrous thelma and louise strategy, putting our already weak economy in further jeopardy. >> president obama says he wants to get a deal done by christmas, but both republicans and democrats will have to com
is listen to their constituents wrrn it's important to note that families are struggling. having a fiscal cliff situation, going on inside the beltway, has a rippling reprecussions for people outside the beltway. we heard stories from people like ruthy who shared with us that her husband is a small business owner. he runs a catering company. because of the economic downturn, he has had fewer clients, which has meant they cannot make ends meet on her salary at a nonprofit and his salary to raise their two children, and, in fact, their phone was recently turned off. they're very concerned about having to pay more taxes just because congress can't end this fiscal cliff fiasco. >> you might have misunderstood the question. what do you think the mom kz do? what do you think, you know, families can do or should be doing to try to help the situation, obviously, because you've got some people who argue, well, you know, maybe there ought to be major cuts when it comes to medicare or medicaid or reforming social security, that kind of thing? >> well, we absolutely 1150% are hearing from moms across
Search Results 0 to 44 of about 45 (some duplicates have been removed)